News

Al Salam Bank Seychelles to address money laundry risks with iFinancial

Friday 24 November 2017 00:31 CET | News

Al Salam Bank Seychelles (ASBS) has selected iFinancial`s anti-money laundering solution, AMLtrac, as it plans to introduce domestic banking services for local and regional SMEs and corporates.

In order to manage its compliance and AML risks, ASBS, an offshore financial institution, has selected the know your customer (KYC) and document management, account monitoring, transaction tracking, and alert management modules of AMLtrac.

iFinancial has been established for over 30 years, with its main products being the BankWare core system and AMLtrac. For the purposes of personal equity plans (PEP), state-owned enterprise (SOE), adverse media and other enhanced checking, AMLtrac is integrated into the Dow Jones database of over 2.4 million data elements as its data source.


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Al Salam Bank Seychelles, iFinancial, AML, KYC, AMLtrac, compliance
Categories: Fraud & Financial Crime
Companies:
Countries: World
This article is part of category

Fraud & Financial Crime






Industry Events